Emefiele To Be Arraigned In Lagos Court Monday

The Economic and Financial Crimes Commission (EFCC) is set to arraign former Central Bank of Nigeria Governor, Godwin Emefiele, on charges of alleged abuse of office in Lagos.

Emefiele, along with co-defendant Henry Isioma Omole, faces a 26-count charge before Justice Rahman Oshodi at the Ikeja State High Court.

The charges, filed by Mr. Rotimi Oyedepo (SAN), allege that Emefiele committed acts of abuse of authority between 2020 and 2023, involving the allocation of billions of US dollars without following proper bidding procedures.
The EFCC accuses Emefiele of directing arbitrary allocations of foreign exchange totaling $2,136,391,737.33 and $291,945,785.59 in separate instances, which are deemed prejudicial to the rights of Nigerians.

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Specifically, Emefiele is accused of a special allocation of $1,769,254,793.16 in 2021 and another allocation of $370,872,893.01, both without proper bidding processes.
The charges also include allegations against his co-defendant, Omole, who allegedly accepted $110,000 as a reward for facilitating foreign exchange allocations.

The charges brought against Emefiele and Omole are in violation of Section 73 of the Criminal Law of Lagos State, 2011.
The EFCC’s move to arraign Emefiele underscores the gravity of the allegations and the legal process’s commencement to address these accusations of abuse of office.

Emefiele’s case has drawn significant attention due to his prominent role in Nigeria’s financial sector and the scale of the alleged misconduct involving substantial amounts of foreign exchange allocations.
The charges suggest a pattern of arbitrary actions that the EFCC contends are detrimental to the rights and interests of Nigerians.